Archived - Release of The Fiscal Monitor for February 2015

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The Department of Finance reports a budgetary surplus of $4.6 billion in February 2015; the Government remains on track to balance the budget in 2015 as confirmed in Economic Action Plan tabled in the House of Commons on Tuesday, April 21.

April 21, 2015 – Ottawa, Ontario – Department of Finance

Finance Minister Joe Oliver today released The Fiscal Monitor for February 2015.

There was a budgetary surplus of $4.6 billion in February 2015, down from the budgetary surplus reported for February 2014 of $5.2 billion.

Revenues decreased by $0.6 billion, or 2.2 per cent, reflecting decreases in most tax revenue streams. Program expenses increased by $0.3 billion, or 1.7 per cent, reflecting increases in major transfers to persons and other levels of government. Public debt charges decreased by $0.4 billion, or 16.3 per cent, largely reflecting lower Consumer Price Index adjustments on Real Return Bonds.  

Quick Facts

  • For the April 2014 to February 2015 period of the 2014–15 fiscal year, the Government posted a budgetary surplus of $5.9 billion, compared with a deficit of $4.8 billion reported in the same period of 2013–14.
  • During the same period, revenues were up $7.1 billion, or 2.9 per cent, reflecting increases in most revenue streams.  
  • Program expenses were down $2.5 billion, or 1.1 per cent, reflecting a decrease in direct program expenses, offset in part by increases in major transfers to persons and other levels of government. 
  • Public debt charges were down $1.1 billion, or 4.3 per cent, largely reflecting a lower average effective interest rate on bonds.

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Melissa Lantsman
Director of Communications
Office of the Minister of Finance

Stéphanie Rubec
Media Relations
Department of Finance

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